What Does a Next-gen MDM Solution Look Like? An App-ready Platform (Part 4)
Master data management (MDM) technology is entering a new stage of maturity. Driven by the rising demands of big data, today’s MDM is drastically different, offering greater capabilities, deployment options, and user flexibility than ever before.
The market forces that have shaped this change are complex, but the result is a new generation of MDM that helps organizations create new value through stronger marketing, sales, distribution, customer service and more.
To help readers understand where MDM came from and where it’s going, I’m publishing a four-part blog series, “What does a next-gen MDM solution look like?” This final series installment focuses on how Informatica MDM is an app-ready platform to optimize any of our customer’s data-fueled processes.
In Part 3 of this series, I discussed how modern MDM is ready for the digital enterprise.
The importance of platform
Data management tasks and use cases were once finite and well defined. But as business data grew and business priorities adapted to market changes, the data management spectrum grew as well. Today, there exists an infinite variety of potential ideas and use cases for master data. To be useful in the post-big data world, next-generation MDM must support its customers’ unlimited business needs and innovation.
MDM’s expanding duties reflect similar changes elsewhere in the modern IT world. For example, operating systems (OS) have become much more about supporting the infinite creativity of the app marketplace than they once were. Rather than building a standalone universe, OS makers know it’s far more customer-centric to open its APIs and let the free market innovate. In other words, to be a platform.
At Informatica, being an open platform for innovative end-to-end data management is an important part of our Intelligent Data Platform product strategy. But it’s not the only part. Instead, our strategy is to be the best of both worlds: An open platform for customers and partners to develop custom data-fueled business applications, alongside a best-in-class master-data fueled application suite addressing some of the most pressing business challenges organizations face.
An app suite for ubiquitous needs
Some data management needs are nearly universal. Onboarding customers or suppliers are good examples of something every company needs to do, but these processes often fall between the cracks of existing enterprise app investments – requiring customers to develop home-grown solutions. It is with use cases like these in mind that Informatica launched solutions within our master-data fueled application suite.
The suite currently includes the following ready-to-use solutions that provide exhaustive data management capabilities in areas where virtually every business will have a need: customers, products, and suppliers.
- Informatica MDM – Customer 360 provides an innovative way of centrally onboarding, strategically managing and securely sharing customer information to deliver great customer experiences and improve marketing, sales and service effectiveness.
- Speed onboarding of customer data from multiple data sources across departments, regions, and lines of business.
- Automate the creation of trusted customer profiles.
- Identify relationships between people, places and things that matter to the
- Combine data quality to cleanse and standardize data, Data as a Service to ensure real-time data validation, verification, and enrichment, and MDM to create a golden customer profile along with relationships.
- Informatica MDM – Product 360 delivers a unified way to manage, collaborate and enrich product information to accelerate product introductions across channels, to streamline product information lifecycle management and to boost marketing effectiveness.
- Collaborate effectively across business users, such as merchandisers, product managers, and marketers.
- Support omnichannel commerce with templates for many leading third-party e-commerce platforms.
- Improve price intelligence and content benchmarking by monitoring competitor product ranges, channel pricing, and content quality.
- Create quality product data with audit trails for transparency, a detailed user concept, and role-based views
- Informatica MDM – Supplier 360 provides a modern approach for onboarding, governing and sharing supplier information to mitigate risks, reduce costs and support a demand-driven supply chain.
- Provide a single, trusted source of business-critical supplier data.
- Power rapid supplier qualification and onboarding.
- Drive more favorable pricing and payment terms, improve performance monitoring and reduce supply chain risk.
- Enrich supplier profiles and credit risk certification with Dun & Bradstreet delivered via Informatica Data as a Service
- Informatica MDM – Relate 360 helps companies identify and visualize relationships, including households, customer groups, social networks, and more. Powered by graph technology (the perfect choice for navigating complex relationships), Relate 360
- Provides intuitive ways to discover and analyze customer, supplier, product, and other internal and external data
- Allows discovery of relationships between business-critical master data found across transactional, interaction and IoT data.
- Provides intuitive ways to visualize relationships between customers, suppliers, products and other internal and external data
- Drives actionable insights and provides capabilities to predict the next best action or offer.
Informatica’s application suite gives out-of-the-box functionality for the most ubiquitous business domains, delivering immediate value to our customers. But because our next-generation MDM is built as part of our Intelligent Data Platform, customers can leverage all the market-leading data management capabilities Informatica has to offer. Also, master data-fueled applications are designed to operate together. For example, Supplier 360 application seamlessly integrates with Product 360 to allow vendors to upload and update product catalogs and maintain most current and complete company information using one single portal.
A platform for custom expansion
An organization’s data is unique. No other company has the same collection of information. Similarly, no other company has the same data management needs. This is the rationale behind our decision many years back to evolve Informatica MDM and the rest of our data management portfolio into a scalable platform. The modular Intelligent Data Platform, with Informatica MDM at its core, gives customers the power and flexibility to start with whatever capabilities they require to address their most critical domains, and then expand to other use cases when they’re ready.
How did we do it? The Intelligent Data Platform includes data quality, master data management, data integration, data security and business process management capabilities. The platform provides following technology building blocks that make it simple to create next-generation of master data-fueled applications.
- Embedded data quality—Rules-based and designed to vet and improve data as it is imported or entered
- Data enrichment—You can validate the data and relationships on the fly, enrich your master data profiles and improve the completeness of the data
- Master Data Management—Creates single, authoritative view of business-critical data and a 360-degree view of the relationships and the interactions.
- Business process management—Orchestrates data workflows that map to business processes and helps data stewards collaborate to ensure data is clean all the time
- Data integration—Automates the import of data from multiple systems, real-time synchronization across your critical processes and delivery of clean master data into operational or analytical systems.
These capabilities are essential to agile, cost-effective development of any data management application. Companies look for these tools so they can create the applications they need to address custom business needs— quickly and efficiently. By making sure they are integral to Informatica MDM, we make it easy for our customers to build the great apps they need on top of our platform.
End-to-end MDM for next-gen data problems
Informatica MDM is a solution for any industry, any use case, and any type of data. Many organizations with extraordinarily critical data spread across many disparate data sources and systems, such as oil and gas industry, rely on our solution. The solution is optimized for all types of big data domains, including transaction, interaction and IoT data. Whatever data our customers have—and whatever they need to do with that data—Informatica MDM is equipped to handle it.
The ability to quickly and efficiently bring data together and derive value from it is a major business differentiator for our customers – and something each and every one of them requires as they manage their unique digital transformation journeys. Having a platform to create the data solutions unique to a company alongside robust, standard features available out-of-the-box for everyday requirements is a necessary and powerful combination to dominate a data-driven world.
For more on the other critical components of next-generation MDM, read the earlier installments in this blog series:
Part 1—End-to-end capabilities
Part 2—Multiple deployment options
To learn more, join us at MDM 360 Summit New York on Feb 22. You can also get a complimentary copy of Gartner’s 2016 Magic Quadrant for Master Data Management Solutions today to learn how vendors stack up.